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The new figure still represents a fall of 45.3 percent from the previous year, but the maker of compact cars eclipsed its own earlier target by posting profits in the first half of fiscal 2009 from April to September.
Suzuki, the maker of WagonR and Alto minicars, also quadrupled its operating profit forecast to 40 billion yen, from an earlier 10 billion yen, on sales of 2.3 trillion yen, unchanged from previous target and down 23.5 percent from a year earlier.
For the first half of fiscal 2009 from April to September, Suzuki continued to remain in the black, but its net profit dropped 63.4 percent from a year earlier to 12.51 billion yen due to a stronger yen and the global economic downturn.
Suzuki saw brisk demand for new models in India and in some European countries like Germany and Britain due to government stimulus measures, but demand continued to be sluggish elsewhere in Japan and North America.
The company also booked an operating profit of 31.84 billion yen, down 47.5 percent, on sales of 1.18 trillion yen, down 31.3 percent, also due to its loss-making motorcycle business.
During the six-month period, Suzuki said about 42.4 billion yen in operating profit was eliminated with the yen's appreciation against key currencies with the U.S. dollar trading at 96 yen, compared with a year-earlier 106 yen.
Osamu Suzuki, chairman and president of the company, said the revised annual forecast still remained conservative, adding the global economic recovery remained precarious with emerging signs of deflation.
"How the yen appreciates and how we maintain (sales) as each country's government incentives run out will be key," Suzuki said.
The company expects the dollar to trade on average at the 90 yen level and the euro at the 115 yen level for the October to March period. It also said it will pay a first-half dividend of 5 yen per share, compared with 8 yen a year earlier.
"We realized the towel was still soaking wet," Suzuki said in reference to the company's internal cost-cutting steps. "We take this slump in sales as a good opportunity to thoroughly cut costs."
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